Shipping agents have warned cash-strapped Pakistan that foreign shipping companies are considering stopping their services to it. In such a situation, all the exports of the country can come to a standstill.
These shipping companies said that banks have stopped paying freight charges to them due to dollar crunch. This information was given in the media report on Saturday.
Abdul Rauf, chairman of the Pakistan Ship Agents Association (PSAA), has written to Finance Minister Ishaq Dar, warning that any disruption in shipping services could cause serious problems for the country’s international trade.
The association warned, “If international trade is stopped, the economic situation will worsen.”
According to a report published in Pakistani newspaper Dawn, the PSAA chairman has also written to State Bank of Pakistan (SBP) Governor Jameel Ahmed, Commerce Minister Syed Naveed Namar and Maritime Affairs Minister Faisal Sabzwari, informing them about the situation.
Rauf urged the relevant ministries and departments to intervene to ensure continuity of Pakistan’s maritime trade by allowing freight charges to be paid to the concerned foreign shipping companies.
Credit: bharat.republicworld.com /